FXStreet (Edinburgh) - The offered tone will prevail on the pair while below the119.85/120.65 band, according to Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes “USD/JPY is seeing a small rebound/holding sideways very near term. Intraday rallies are indicated to falter circa 118.40”. “The market will find resistance at 119.85/120.65 and while capped here it will remain offered”. “Scope remains to extend losses towards the 116.47 support line and the 116.15 August low”. For more information, read our latest forex news.